Trading was born to go beyond strategies where interests prevail and where one side wins and the other loses. In this case, all negotiating parties can reach the desired agreement, which satisfies the priority interests of each of them. Broker.cex will guide you with more strategies on how to trade.
The risk of losing what is most important to each party is therefore reduced because everyone wins. Possible agreements that come out of this type of trading will always be of mutual benefit, since the parties do not see themselves as adversaries, but prioritize collaboration.
Here we present 7 elements that must be taken into account to face a win-win trading. Check out
- Interests and positions
The position is the attitude towards the issue to be traded. And interests are everything that is not exchanged with other parties. To achieve good results, it is not necessary to take rigid positions. Each party must focus on interests and seek solutions to needs.
- Options
After knowing and understanding the interests of each party, several mutually beneficial options will be generated. All possibilities must be considered in order to reach a satisfactory agreement to the interests of all, creating value, for example, through brainstorming. The best options will become the ideal deal.
- Alternatives
Depending on how the trading evolves, the parties may not reach consensus, and the point where they leave the negotiating table can be reached. The alternatives depend on the subjective criterion and are the possibilities to resolve the conflict without the other parties. If there is no agreement, some alternatives should always be prepared and evaluated as to whether they are better or worse than the options in the agreement.
- Criteria
After having talked about different solutions, they must be analyzed to find out which is the best, the fairest, and the most realistic for both parties. The solutions are filtered through objective criteria, that is, evaluating them with criteria that are beyond the will of the parties. This is how the legitimacy of the solutions will be determined, with transparency and impartiality.
- Relationship
Separating the problem of trading and the personal relationship you may have with that person or institution is essential to caring for relationships. After all, those who trade are people with different feelings, emotions, and opinions, and believing that the person is the problem will not help you move forward. Empathy and understanding will serve to prioritize the relationship, leaving the door open for future tradings.
- Commitments
These are approaches to what the negotiating parties will and will not do. In other words, verbal or written promises that, if fulfilled, can be transformed into lasting agreements.
- Communication
The way you express yourself, both verbally and by the gesture, has a direct influence on the outcome of the trading. Negotiating face to face can be much more beneficial and positive for the deal because communication should facilitate trading and not be an obstacle. That is why it is recommended to get to know the other party in person and not trade from the beginning by phone or email. When establishing trust, it is easier to collaborate, cooperate, and reach agreements.
